The bill amends the Michigan strategic fund act to establish the Michigan defense center, which is tasked with focusing on job creation and retention related to homeland security and defense contracts. The bill introduces the term "APEX Accelerator" in place of "procurement technical assistance center," emphasizing the center's role in coordinating with APEX Accelerators to enhance business opportunities for small businesses in the state. Additionally, the bill sets performance objectives for increasing defense contracts awarded to Michigan-based businesses and mandates the center to provide necessary resources to meet these objectives.

Furthermore, the bill outlines the operational structure of the Michigan defense center, including the hiring of an executive director and support staff, and specifies that state funds cannot be used for constructing or renovating buildings for the center's use. It also requires any APEX Accelerator or entity receiving funding from the Michigan defense center to report annually on the use of funds and the number of contracts obtained. The bill includes various definitions, clarifying terms such as "small business" and "municipality," and makes several deletions and insertions to update the language and responsibilities associated with the Michigan defense center.

Statutes affected:
Senate Introduced Bill: 125.1972